The community of POOL holders makes decisions through governance proposals. Proposals are accepted or rejected using an onchain voting process. Anyone, who holds or has delegated >10,000 POOL, can submit a proposal to PoolTogether governance.
The following timeline is recommended and should be considered when creating a proposal.
- RFC: 5 days (minimum)
- PTIP/PTBR: 24 hours (minimum)
- Submit onchain: 5 days (does not vary)
Note: This timeline can vary based on community approval.
All major discussions should start on the governance forum to be reviewed by anyone in the PoolTogether community.
Once submitted, the forum discussion should be open for feedback from the community for at least 5 days (assuming it is well-formed).
- If the proposal does not get explicit approval or is still highly contested, the proposer should -continue to seek feedback from the community and submit an amended proposal.
- If the proposal has strong support, the proposer can create a corresponding PTIP/TBR.
After applying potential community feedback to the proposal, the proposer should:
and leave the topic open for at least 24 hours, before submitting the proposal onchain.
When it comes time to create an onchain proposal, the proposer must:
After a proposal is submitted onchain a 5-day voting period begins. A proposal succeeds, if after five days
- the majority of votes are in favor (approval threshold of 51%)
- AND at least 100,000 votes have been cast in favor (Quorum of 1%).
When a proposal succeeds, the proposer (or any other person) can queue Proposal.
There is a two day timelock before the proposal is actually implemented. After the timelock has expired, the proposal can be executed.
In case a proposal does not pass a governance vote, the proposal will not be executed. If the proposer wishes to iterate on a proposal that has been rejected, they should:
- 1.Create a new proposal thread on the Forum.
- 2.Include a link to the first proposal that did not pass.
- 3.Clearly identify what has changed in the new proposal.
- If a proposer does not hold their votes throughout the full time of the onchain proposal, then the proposal can be canceled by anyone.
- Urgent, security-related PTIPs may progress to an onchain proposal immediately.